Cabot Oil & Gas (COG) Issues Quarterly Earnings Results
Cabot Oil & Gas (NYSE:COG) issued its quarterly earnings results on Friday. The oil and gas exploration company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.04, Bloomberg Earnings reports. The business had revenue of $400.50 million during the quarter, compared to the consensus estimate of $422.12 million. Cabot Oil & Gas had a negative return on equity of 44.59% and a negative net margin of 71.74%. The company’s quarterly revenue was up 26.5% on a year-over-year basis. During the same quarter last year, the company earned $0.01 earnings per share.
Shares of Cabot Oil & Gas (COG) traded up $0.58 during trading on Friday, hitting $24.46. The stock had a trading volume of 8,490,547 shares, compared to its average volume of 5,930,000. Cabot Oil & Gas has a twelve month low of $21.40 and a twelve month high of $29.57. The firm has a market cap of $11,310.00, a price-to-earnings ratio of -78.90, a PEG ratio of 0.65 and a beta of 0.39. The company has a current ratio of 1.64, a quick ratio of 1.61 and a debt-to-equity ratio of 0.49.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 7th. Stockholders of record on Wednesday, January 24th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend was Tuesday, January 23rd. This is a positive change from Cabot Oil & Gas’s previous quarterly dividend of $0.05. Cabot Oil & Gas’s dividend payout ratio is -77.42%.
A number of equities research analysts recently commented on the company. Williams Capital set a $30.00 target price on Cabot Oil & Gas and gave the stock a “hold” rating in a report on Friday. ValuEngine cut Cabot Oil & Gas from a “hold” rating to a “sell” rating in a research report on Monday, February 5th. BMO Capital Markets set a $33.00 price target on Cabot Oil & Gas and gave the stock a “buy” rating in a research report on Monday, October 30th. KeyCorp set a $30.00 price objective on Cabot Oil & Gas and gave the stock a “buy” rating in a research note on Saturday, November 25th. Finally, Scotiabank reissued a “buy” rating on shares of Cabot Oil & Gas in a research note on Wednesday, November 22nd. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Cabot Oil & Gas presently has a consensus rating of “Hold” and an average price target of $31.53.
Cabot Oil & Gas declared that its Board of Directors has approved a stock buyback plan on Friday, February 23rd that allows the company to repurchase 30,000,000 outstanding shares. This repurchase authorization allows the oil and gas exploration company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its stock is undervalued.
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About Cabot Oil & Gas
Cabot Oil & Gas Corporation is an independent oil and gas company engaged in the development, exploitation and exploration of oil and gas properties. The Company operates in the segment of natural gas and oil development, exploitation, exploration and production, in the continental United States. Its assets are concentrated in areas with known hydrocarbon resources, which are conducive to multi-well, repeatable drilling programs.
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